currency

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currency

noun bank notes, bills, cash, circulating medium, coin, government notes, hard cash, legal tender, medium of exchange, moneta, money, money in actual use, notes, paper money, ready money, specie
Associated concepts: lawful currency
See also: cash, disclosure, money, publication

CURRENCY. The money which passes, at a fixed value, from hand to hand; money which is authorized by law.
     2. By art. 1, s. 8, the Constitution of the United States authorizes congress "to coin money, and to regulate the value thereof." Changes in the currency ought not to be made but for the most urgent reason, as they unsettle commerce, both at home and abroad. Suppose Peter contracts to pay Paul one thousand dollars in six months-the dollar of a certain fineness of silver, weighing one hundred and twelve and a half grains-and afterwards, before the money becomes due, the value of the dollar is changed, and it weighs now but fifty-six and a quarter grains; will one thousand of the new dollars pay the old debt? Different opinion may be entertained, but it seems that such payment would be complete; because, 1. The creditor is bound to receive the public currency; and, 2. He is bound to receive it at its legal value. 6 Duverg. n. 174.

References in periodicals archive ?
She stressed that she planned to gain the right to control the national currency, explaining that it would mean turning euro into the money that would only be used by "big companies engaged in international trade.
Sarafu-Credit does not replace the national currency but rather supplements it, according to Will Ruddick, a development specialist who founded Grassroots Economics.
The Center said that the deterioration in the national currency will be reflected directly to the foodstuffs and services prices, and it will worsen the citizens' standard of living.
Moreover, the technical and practical hurdles for reintroducing a national currency are lower than generally presumed.
Since 2002, the national currency (the krone) increased 26 percent in value relative to the U.
contested Listed race at Nad Al Sheba last month, National Currency was put down on Thursday, leaving those associated with the horse devastated at the loss of an animal who was being primed to race in Britain this summer.
However, for individuals whose national currency is not the U.
The latest date, in any of the euro zone countries, for using the national currency is February 28, 2002.
974/ 98 then provides that the euro shall also be divided into the national currency units according to the conversion rates.
TAIPEI, March 3 Kyodo Taiwan's Central Bank of China said it will issue new, more forgery-proof set of banknotes which will be formally elevated to the status of a national currency.
In Ireland, which will be part of the euro zone, a group calling itself ``Citizens for Keeping the Irish Punt'' demands officials ``break the link with the euro and re-establish a national currency.

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